Digital Assets Report

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US Bank has appointed Kevin Weeks (pictured), as head of global sales for its corporate and institutional trust services division. Weeks most recently served as head of Issuer Services for Deutsche Bank, and prior to that as global head of sales for Institutional Cash & Securities Services at Deutsche Bank. He is based in New York and will lead an experienced team of corporate trust and custody business development professionals in the United States and Europe.   “Kevin is an experienced leader in the securities services industry with a tremendous understanding and appreciation for this complex business and what clients
State Street Corporation has received approval from the UK’s Financial Conduct Authority (FCA) to operate its FX Connect and Currenex platforms as multi-lateral trading facilities (MTFs) for foreign exchange within the jurisdiction of MiFID II. Both platforms will now operate as MTFs and be upgraded to be compliant with MIFID II upon implementation in January 2018.   For institutions that fall under the MiFID II regime, “financial instruments”1 can only be traded on the new MTFs; however, the operators of Currenex and FX Connect located outside of MIFID II’s jurisdiction (Currenex Inc and FX Connect LLC respectively) will not be
Indus Valley Partners (IVP), a provider of services and solutions to alternative asset managers, has launched a new regulatory filing service for the Markets in Financial Instruments Directive II (MiFID II). The new service forms part of the overall regulatory reporting platform known as IVP RAPTOR.   MiFID II will be taking effect on 3 January, 2018 and will have ramifications across asset classes, systems, data and processes for any financial institution that trades in European financial markets. By using IVP RAPTOR Managed Services for MiFID II, asset managers can achieve a seamless and efficient transition to MiFID II compliant
LiquidityBook has appointed Nicholas Thompson (pictured), as Manager, Client Services – EMEA, on the back of increased demand for the POEMS (portfolio, order and execution management system) platform from European fund managers. Thompson (pictured) will be responsible for leading the firm’s London team and overseeing all service and deployment aspects for its expanding client base in the region. The appointment comes just a month after LiquidityBook tapped Les Vital to lead its Technical Sales team.   Thompson joins from Eze Software Group, where he was Senior Client Engagement Manager for EMEA and was responsible for product implementation across the region.
THL Credit Advisors has closed on a total of USD511 million in commitments to its third direct lending fund. Strong institutional investor demand from both existing and new investors enabled THL Credit Direct Lending Fund III and affiliated vehicles to exceed its target, driven primarily by the firm’s differentiated platform, and its origination and structuring capabilities in the lower middle market.   Founded in 2007, and with approximately USD10 billion of assets under management, THL Credit takes a proactive, disciplined, and creative approach to investment sourcing, underwriting and portfolio management. The firm’s lower middle market direct origination platform offers multiple
The shareholders of the European Energy Exchange (EEX) have elected a new Supervisory Board. The new EEX Supervisory Board is composed as follows: Dr Dirk Biermann, Managing Director, 50Hertz Transmission GmbH; Heike Eckert, Member of the Management Board, Eurex Clearing AG; Dr Nigel Hawkins, Head of Power & Fuel Portfolio Management, Enel Trade SpA; Peter Heydecker, Executive Director Trading, EnBW Energie Baden-Württemberg AG; Burkhard Jung, Mayor of the City of Leipzig; Dr Jürgen Kroneberg, Lawyer; Xavier Lafontaine, Head of Strategic Partnerships, Electricité de France SA; Michael Lockett, Director of Power Dispatch & Real-Time Trading, Uniper Global Commodities SE; Dr Hartmut
Hedgeweek Q&A with Mark Coriaty, Chief Strategy Officer, Eze Castle Integration HW: Talk about the advancement and evolution of cloud services in recent years and how we’ve ended up where we are.  MC: If you step back and look at the landscape over the last four or five years, we have seen a lot of changes both on the technology front, as well as within the financial markets. Whether the result of fund raising challenges or increasing regulatory demands, the landscape for alternative fund managers has changed significantly.  We’ve therefore had to adapt to the market and this includes three
Rates of funds processing automation by transfer agents (TAs) in the cross-border fund centres of Luxembourg and Ireland reached new highs in 2016, according to a new report published by The European Fund and Asset Management Association (EFAMA) in cooperation with SWIFT. The report is an on-going campaign by EFAMA and SWIFT to highlight the advancement of automation and standardisation rates of orders of cross-border funds. Twenty nine TAs from Ireland and Luxembourg participated in this survey.   The report reveals that the total volume processed by the 29 survey participants reached 34 million orders last year, while the total
FundRock Management Company has appointed Enda Fahy (pictured), to head up the Illiquid Alternatives function at its Luxembourg Headquarters.  FundRock, one of the largest independent UCITS and AIFM investment management companies in Europe, has recently opened its Irish branch and has announced its intention to acquire a UK-based ACD. FundRock, as part of its five-year strategy, is also developing its current AIFM business to cover illiquid assets.   Over the 15 year course of his career to date, Fahy has acquired extensive experience in the Real Estate and Private Equity industries. Prior to relocating to Luxembourg, he was based in
Increasingly, the search for alpha is pushing asset managers into the furthest corners of financial markets. New asset classes, new instruments and new geographies are conspiring to place huge pressure on pre-existing operating models as managers struggle to cope with the volume of investment data. Whereas previously the front office operated independently from the middle and back office, all three are converging to handle the data management task.  This, in short, is leading to a new investment management operating model; one that is more integrated, front to back. And is, in turn, being supported by service providers. Fund administrators, who

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